Green Form vs. White Form Mortgage Guide 2026: Navigating HK’s Subsidised Housing

For many in Hong Kong, the Home Ownership Scheme (HOS) is the most accessible path to owning property. However, the mortgage terms for Green Form (GF) and White Form (WF) applicants differ in critical ways, especially following recent policy updates to the "Guarantee Period" and quota ratios. In 2026, understanding these nuances is essential to securing the best loan terms for your new home.

Key Mortgage Differences: Green Form vs. White Form
 

While both forms offer access to subsidized housing, the financing limits and eligibility criteria set them apart.

Green Form (GF)
 

• Eligibility: Mainly public rental housing (PRH) tenants or those with a valid Green Form Certificate.
• Loan-to-Value (LTV) Ratio: Traditionally the highest in the market at up to 95%. This means a down payment of only 5%.
• Mortgage Tenor: Up to 30 years for both primary and secondary market flats.

White Form (WF)
 

• Eligibility: Private housing tenants or families meeting specific income and asset limits (currently $60,000/month for families and $30,000/month for individuals).
• Loan-to-Value (LTV) Ratio: Up to 90%, requiring a 10% down payment.
• Mortgage Tenor: Up to 30 years.

New Policy Updates for 2026

Recent adjustments by the Hong Kong Housing Authority (HKHA) have made the secondary market more attractive than ever:
• Extended Guarantee Period: The mortgage default guarantee has been extended to 50 years (from the date of first assignment). This allows older HOS flats in the secondary market to qualify for longer repayment periods and higher LTV ratios.
• Revised Quota Ratio: Starting from recent sale exercises, the quota ratio between Green Form and White Form has been adjusted from 4:6 to 5:5. This move encourages more PRH tenants to achieve upward mobility, effectively increasing the chances for Green Form applicants.
• The "40-Year" Rule: For flats aged between 40 and 50 years, the HKHA guarantee covers up to 80% LTV. If you require 90% or 95% for an older flat, you may now apply through the Mortgage Insurance Programme (MIP), provided you meet specific income proof requirements.

Comparison Table (Secondary Market 2026)

*Note: While the formal DTI measurement is often waived due to the government guarantee, banks still require a "declaration of income" and may request proof for older properties or higher LTV ratios.